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BLOCKCHAIN INTRO
OCTUBRE 2017
➔ Separate ledgers => dependent on
individual entities / sources of trust
➔ Intermediaries and reconciliations
➔ Off-ledge...
BLOCKCHAIN IS TRUSTLESS
➔ Anybody can generate
public / private key pairs
➔ Anybody can check
signatures
➔ The community
c...
SMART CONTRACTS ARE PROGRAMS
(AND DATA) ON THE SHARED LEDGER
A smart contract-
enabled blockchain
(e.g. Ethereum) is a
sha...
➔ ”Real” (fiat) money stays in an
omnibus account in the bank
➔ Easy integration through web
services
TOKENIZATION MAKES B...
PERMISSIONED BLOCKCHAINS: A PRAGMATIC
STEP FOR ENTERPRISES
➔ Not dependent on individual sources of
trust, but on a truste...
PRIVACY IS PARAMOUNT
➔ Private smart contracts
are implemented as “sub-
blockchains”
➔ Payloads only stored in
participati...
BARCELONA, OCTUBRE 2017
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Introducción a Blockchain

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Breve introducción a Blockchain

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Introducción a Blockchain

  1. 1. BLOCKCHAIN INTRO OCTUBRE 2017
  2. 2. ➔ Separate ledgers => dependent on individual entities / sources of trust ➔ Intermediaries and reconciliations ➔ Off-ledger messages ➔ Batches BLOCKCHAIN IS A SHARED LEDGER TODAY’S WORLD BLOCKCHAIN ➔ Single, shared ledger => single version of truth ➔ Trustless ➔ Hyper-replicated => resilient and immutable, yet cheap ➔ In real time
  3. 3. BLOCKCHAIN IS TRUSTLESS ➔ Anybody can generate public / private key pairs ➔ Anybody can check signatures ➔ The community collectively audits transactions and accepts them into the ledger LEDGER INITIAL NEW TRANSACTION LEDGER FINAL Public key Amount Public key Amount Public key 1 Amount1 Public key 2 Amount2 … … private key 1
  4. 4. SMART CONTRACTS ARE PROGRAMS (AND DATA) ON THE SHARED LEDGER A smart contract- enabled blockchain (e.g. Ethereum) is a shared computing platform where transactions are: ➔ Notarized ➔ Immutable ➔ Real time CRYPTOCURRENCIES (E.G.BITCOIN) SMART CONTRACTS (E.G.ETHEREUM) Public key Amount Public key Amount Public key Amount Public key Amount … … ➔ The ledger stores amounts of cryptocurrency ➔ (Very simple) rules can be attached to ledger entries contract cryptobank { mapping(address => uint) public balance; function transfer(uint amount, address receiver) if(balance[msg.sender] >= amount) { balance[msg.sender] -= amount; balance[receiver] += amount; } else { throw; } } ... ➔ The ledger stores programs and data ➔ Programs are Turing-complete (i.e. general purpose) ➔ Data in smart contracts can represent anything ➔ Smart contracts can interact with other smart contracts ➔ Cryptocurrencies can also be supported – and used to pay for shared computing power / notarization
  5. 5. ➔ ”Real” (fiat) money stays in an omnibus account in the bank ➔ Easy integration through web services TOKENIZATION MAKES BLOCKCHAIN USEFUL IN THE REAL WORLD ➔ Tokenizer deployed within bank’s data center (no external API calls needed) ➔ Client digital balances issued on a smart contract, backed 1:1 with funds in the omnibus account … and now money is digital and globally interoperable (through other smart contracts!)➔ Anything (besides money) can be tokenized!!
  6. 6. PERMISSIONED BLOCKCHAINS: A PRAGMATIC STEP FOR ENTERPRISES ➔ Not dependent on individual sources of trust, but on a trusted set of validators => Not 100% trustless, but good enough ➔ Private – only nodes permissioned by the validators can participate ➔ Simple consensus algorithms can be used (instead of proof of work) ➔ Much more scalable and performant ➔ Needs to implement governance mechanism ➔ … but needs to implement governance mechanisms
  7. 7. PRIVACY IS PARAMOUNT ➔ Private smart contracts are implemented as “sub- blockchains” ➔ Payloads only stored in participating nodes ➔ Private transactions notarized anyway by the (common) underlying blockchain
  8. 8. BARCELONA, OCTUBRE 2017

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